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- Mubadala Signals Strength; Ninja Eyes IPO; Saudi Oil Reroutes
Mubadala Signals Strength; Ninja Eyes IPO; Saudi Oil Reroutes
Monday, March 30, 2026
Happy Monday everyone!
In the UAE, Mubadala CEO Khaldoon Al Mubarak signalled confidence, saying the country will “emerge stronger” as the $330 billion fund adapts to regional tensions. Meanwhile, Saudi startup Ninja is exploring a Riyadh IPO after rapid growth, marking a notable founder comeback story. In energy markets, Saudi Arabia is rerouting 7 million barrels per day through its East-West pipeline, bypassing Hormuz disruptions and reinforcing the Kingdom’s strategic advantage as global supply pressures intensify.
In the wake of developments in the region, we hope everyone stays safe. At this critical moment, it is essential to remain united and follow guidance issued by official authorities from your country.
Markets
EGX30 | 46,386.33 | -1.31% |
DFMGI | 5,510.99 | -0.12% |
ADX | 10,022.79 | -0.07% |
Tadawul | 11,078.27 | -0.11% |
Mubadala CEO: UAE ‘Will Emerge Stronger’ as Fund Navigates Regional Tensions
What Is It About?
Mubadala CEO Khaldoon Al Mubarak said the UAE will “emerge stronger, as we have done time and time again,” as the country navigates escalating regional tensions. In a letter to global partners, colleagues and friends seen by The National, he outlined how the $330 billion sovereign wealth fund is maintaining stability through an adaptive strategy while continuing to operate alongside international partners.
Why It Matters?
The remarks reflect growing confidence from one of the region’s most influential investors at a time of heightened geopolitical risk. Mubadala’s positioning reinforces the UAE’s role as a resilient global investment hub, demonstrating how sovereign wealth funds can balance short-term disruption with long-term capital deployment across critical sectors.
What’s Next?
Mubadala is expected to sustain investment momentum across artificial intelligence, energy and advanced manufacturing, building on recent deals including Waymo, Property Finder and Egypt’s Nargis Offshore concession. Investors will be watching how the fund continues to deploy capital while navigating volatility and preserving global partnerships.
Binance Scores Second US Legal Victory in Anti-Terrorism Act Case
Binance, the world’s largest cryptocurrency exchange, has secured a second major U.S. legal win in just two weeks, after a federal court in Alabama dismissed all claims against the company under the Anti-Terrorism Act. The court criticized the plaintiffs’ complaint as a “shotgun pleading,” citing its failure to clearly outline allegations or distinguish individual liability, and granted the plaintiffs until April 10, 2026, to amend the filing or risk dismissal.
This follows a similar victory in New York, reinforcing Binance’s defense against allegations of supporting terrorism. General Counsel Eleanor Hughes emphasized that the rulings reflect the need for legal rigour and evidence, and reiterated Binance’s commitment to compliance, transparency, and lawful operations. With these back-to-back wins, Binance strengthens its readiness to vigorously defend itself against unfounded claims.
Ousted HungerStation Founder Targets IPO for $1.5B Startup Ninja
What Is It About?
Saudi Arabia-based q-commerce startup Ninja is considering an IPO in Riyadh after strong growth and rising investor interest. The company generated around $1 billion in revenue in 2025 and is targeting $1.6 billion in 2026, expanding across Saudi Arabia and into Bahrain, Qatar and Kuwait.
Why It Matters?
The potential listing comes as Ebrahim Al-Jassim, founder of HungerStation, makes a comeback. He was reportedly removed in 2019 by Delivery Hero, which also owns Talabat, following a dispute over control and alleged intellectual property issues, according to MENAbytes. The conflict later ended with a $297 million buyout of his 37% stake in 2023.
What’s Next?
With a $1.5 billion valuation and backing from Riyad Capital, Ninja is positioned as one of Saudi Arabia’s emerging tech unicorns. Markets will watch whether it proceeds with a listing and how it scales in the increasingly competitive q-commerce sector.
Saudi Pipeline to Bypass Hormuz Hits 7 Million Barrel Goal
What Is It About?
Saudi Arabia’s East-West pipeline is now operating at full capacity of 7 million barrels per day, allowing crude to bypass the Strait of Hormuz. Around 5 million bpd is available for export via Yanbu, with additional 700,000–900,000 bpd in refined products.
Why It Matters?
The Strait of Hormuz typically carries around 20% of global oil and LNG flows, and its disruption has already cut regional exports by over 60%. Saudi Arabia’s ability to reroute volumes highlights a rare infrastructure advantage, even as Brent crude rises above $100 per barrel.
What’s Next?
Despite the rerouting, constraints remain. Yanbu’s loading capacity is estimated at 4–5 million bpd, limiting full export potential. Analysts warn prolonged disruption could remove 13–14 million bpd from global supply, keeping markets volatile.
👨💻From Smashi Business’ Desk
The Uber Co-Founder Who Recently Became a Saudi Citizen Just Turned His CloudKitchens Venture into a Robotics Company
Supplements maker Bioniq, backed by Ronaldo, to be acquired by Herbalife for up to $150m
Dubai Billionaire Cookies Founders Are Open to Selling the Company After Closure Announcement
UAE Millionaire Lewis Allsopp Just Launched the ‘Ticketmaster of Dubai’: Seatsy
🔍In other news…
Naguib Sawiris Says Trump Lacks ‘Tact and Respect for Others’
Egypt Orders Early Closure of Shops and Restaurants Amid Energy Pressures
Kingdom Holding Profit Jumps 73% as Developer of World’s Tallest Tower Gains Momentum
UAE Demand for 22K and 24K Gold Rebounds as Prices Drop Over Dh100
🦄 World of Startups
Stake Raises $31M Series B Led by Emirates NBD, Total Funding Hits $58M
US-based Luma AI is planting its flag in Riyadh — opening a regional headquater
Singapore's Ascentium continues its aggressive expansion, acquiring UAE legaltech pioneer Clara in a strategic Middle East play
Abu Dhabi is quietly becoming one of the most influential financiers of the global AI race, with its latest participation in Anthropic’s massive $30B funding round
Safqah Capital has just closed one of Saudi Arabia’s largest-ever seed rounds, raising $15.2 million in a deal that was four times oversubscribed
🗓️ Plan Your Events (March-April 2026)
UAE
31 March - 2 April (Tuesday-Thursday): Arab Media Summit, Dubai.
26-28 March (Thursday-Saturday): Social Capital Conference, Dubai.
7-9 April (Tuesday-Thursday): Future Health Summit, Adnec Center Abu Dhabi.
13-15 April (Monday-Wednesday): AIM Congress, Dubai World Trade Center.
14-16 April: (Tuesday-Thursday): the International Property Show, Dubai World Trade Center.
Saudi Arabia
13-16 April (Monday-Thursday): Leap Tech Conference, Riyadh Exhibition & Convention Center - Malham.
20-22 April (Monday-Wednesday): Sports Investment Forum (SIF), Riyadh
Egypt
30 March – 1 April (Monday-Wednesday): Egypt International Energy Conference and Exhibition (EGYPES).
